The Starr Co just paid a dividend of $1.95 per share on its stock. The dividends are expected to grow at a constant rate of 3 percent per year, indefinitely, Investors require of 11 percent on the stock.
What is the current price? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) Current price $ _____
What will the price be in three years? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) Stock price $ ____
What will the price be in 6 years? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16)) Stock price $ _____